First Quantum Minerals Limited (TSE:FM) had its price target cut by equities researchers at Berenberg Bank from C$11.00 to C$8.25 in a report released on Wednesday. Berenberg Bank’s target price would indicate a potential downside of 46.22% from the company’s current price.

Other research analysts also recently issued research reports about the company. Cormark upgraded First Quantum Minerals Limited from a “market perform” rating to a “buy” rating in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. lifted their price objective on First Quantum Minerals Limited from C$5.50 to C$5.75 and gave the company a “sell” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reduced their price objective on First Quantum Minerals Limited from C$8.00 to C$6.70 and set an “underweight” rating for the company in a research report on Monday, November 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a C$12.50 price objective on shares of First Quantum Minerals Limited in a research report on Monday, October 31st. Finally, Scotiabank reissued a “focus stock” rating and set a C$14.50 price objective on shares of First Quantum Minerals Limited in a research report on Friday, October 28th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. First Quantum Minerals Limited presently has an average rating of “Hold” and an average price target of C$10.83.

Shares of First Quantum Minerals Limited (TSE:FM) traded down 1.89% during midday trading on Wednesday, reaching $15.05. The company’s stock had a trading volume of 796,384 shares. First Quantum Minerals Limited has a 12 month low of $2.15 and a 12 month high of $16.68. The stock has a market capitalization of $10.32 billion and a P/E ratio of 218.12. The stock’s 50-day moving average is $13.01 and its 200 day moving average is $10.87.

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About First Quantum Minerals Limited

First Quantum Minerals Ltd. is an international mining company. The Company is engaged in mineral exploration, mine engineering and construction, development and mining. It produces copper in concentrate, copper cathode, nickel in concentrate, gold, zinc, platinum-group elements (PGE) and pyrite. Its operations and development projects are located in Zambia, Mauritania, Spain, Turkey, Finland, Australia, Panama, Peru and Argentina.